Koine Finance, a soon-to-launch provider of custody and settlement services for digital assets has appointed Hugh Hughes as its chairman and chief executive.

Hughes, who spent 10 years as the chief executive of Societe Generale Securities (now Societe Generale Securities Services), co-founded Fixnetix, a financial technology company in 2015.

Fixnetix with provided a low-latency network connected globally to trading venues that, in turn, provided fastest-in-class price discovery, trade execution and trade confirmation for the algorithmic trading desks of investment banks, hedge funds and proprietary trading firms, was sold to US-based tech vendor CSC in 2016 in a deal with more than $100 million.

Koine, which is due to launch in Q2 this year, provides custodial and settlement services for both digital and fiat assets.